There's no such thing as parallel or perpendicular "to a point". A problem like that 
will always want the new line to be parallel or perpendicular to another line.
-- If the new line is parallel to the given line, then they have the same slope.
-- If the new line is perpendicular to the the given line, then the slope of the 
new line is [ 1 / slope of the given line ].
In either case, you now have the slope of the new line and a point on it. 
From there, you should have no trouble finding its equation.